In early June 2020, several months into the COVID-19 pandemic, a business analyst was evaluating how COVID-19 had changed business and markets and whether these changes would be permanent. Already, a part of the business world had shifted to a working-from-home mode, while executives were evaluating financial strategies to help cope with the changes caused by the pandemic and assessing supply chains that had been disrupted. This case provides an opportunity to discuss key themes such as risk management, globalization, lessons from previous crises such as the global financial crisis (GFC), and the role of banks during the pandemic, as well as the role of the Federal Reserve in mitigating the economic destruction that COVID-19 had inflicted.